Solana Slips As Heavy Outflows Signal Deeper Sell Pressure (Technical Analysis)

Summary Solana drops to $159 after losing the key $170–$180 support ￰0￱ outflows hit $24.3 million in 24 hours, signaling selling ￰1￱ interest climbs to $7.72 billion as short positioning ￰2￱ Parshwa Turakhiya ​Solana ( SOL-USD ) traded near $159 on Thursday, attempting to stabilize after breaking below the critical $170–$180 support zone that had held since ￰3￱ sharp fall came alongside accelerating exchange activity, with $24.3 million in net outflows recorded over the past 24 hours, according to Coinglass ￰4￱ red flow readings show that tokens are being moved to exchanges rather than withdrawn, a trend that often precedes further downside when confidence ￰5￱ confirms bearish continuation The technical setup on the daily chart confirms that Solana has shifted from consolidation into a controlled bearish ￰6￱ now trades below the 20-, 50-, and 100-day EMAs, clustered between $182 and $194, all trending ￰7￱ EMA compression above price acts as a resistance band, rejecting every short-lived ￰8￱ price dynamics () The failure to hold $170, previously a high-volume demand area, marked a major shift in market ￰9￱ rebounds had formed from this exact zone in recent months, but the latest breakdown sliced through it ￰10￱ next visible demand sits between $156 and $150, a region defined by prior accumulation activity and alignment with Parabolic SAR ￰11￱ $150 would expose the deeper liquidity pocket near $138, a level that absorbed sellers in late ￰12￱ indicators remain ￰13￱ RSI hovers between 38 and 40, signaling room for continued selling before oversold levels ￰14￱ Parabolic SAR dots stay above price, showing that the trend remains intact on the ￰15￱ and derivatives data reinforce downside bias Flows continue to mirror what the chart already shows: persistent ￰16￱ netflows through November reveal that investors are actively preparing to sell or hedge ￰17￱ $24.3 million in outflows over the last day marks one of the strongest exchange inflows of the month, further confirming profit-taking and reduced accumulation ￰18￱ positioning also signals ￰19￱ the price decline, open interest rose to $7.72 billion, meaning traders are adding new contracts as price ￰20￱ pattern typically signals an increase in short positions and rising volatility risk.

Interestingly, long/short ratios show that retail traders remain optimistic, with Binance data showing 3.85 longs for every ￰21￱ reflects aggressive attempts to catch a bottom. Historically, when open interest rises while the majority of traders remain long, markets often experience liquidation-driven declines before a true recovery ￰22￱ remains cautious For Solana to neutralize the current breakdown, it must reclaim $170, the first technical barrier above price. A daily close above the EMA cluster between $182 and $194 would shift structure back toward neutral and open the path to $210, where the descending trendline intersects with prior ￰23￱ then, the short-term outlook remains ￰24￱ continue to dictate market direction, flows favor exchanges, and EMAs slope downward like a ceiling on price ￰25￱ earlier analysis, Solana was described as vulnerable once it failed to hold the $170 ￰26￱ view remains ￰27￱ next critical area to monitor lies between $156 and $150.

If buyers cannot defend this level, the market is likely to target $138, where prior accumulation zones absorbed heavy ￰28￱ material may contain third-party opinions; none of the data and information on this webpage constitutes investment advice according to our ￰29￱ we adhere to strict Editorial Integrity , this post may contain references to products from our ￰30￱ Post